Trump clarifies origin of $5,000 for each person and how it can be spent
Donald Trump, President of the US (photo: Getty Images)
US President Donald Trump explained where the funds for $5,000 payments to every American could come from in the event of a Republican victory. He also stated what these funds could be spent on, according to CBS News.
Trump called the future payments Trump dividends. According to him, the only condition for recipients would be to spend the money within the US.
Initially, the president did not explain which specific funds would finance the program. According to estimates by American media, paying $5,000 to all adult citizens could cost over $1 trillion.
In a new interview with CBS News, Trump stated that, in his view, Congressional approval might not be required to implement the idea.
"Well, we think not. I think they will do it if we needed it. But we think not," he said, answering the question of whether Congress must approve the payments.
Trump explained that he is counting on revenue from tariffs and other sources. According to him, the US has already received trillions of dollars from tariffs and other sources.
At the same time, the president did not provide a specific calculation showing how tariff revenues would allow financing payments of such a scale. CBS noted that the legal basis for making such payments without a Congressional decision remains unclear.
Context of Trump's statement
Trump presented these payments as a kind of reward to citizens for the US economic successes. It should also be taken into account that there are about 270 million adult citizens living in the US.
The White House has begun preparing for the possibility that the Republican Party will suffer a defeat in the autumn midterm elections to the US Congress.
